Retirement Villages (Contractual Arrangements) Regulations 2017 – Regulatory Impact Statement submission
The Consumer Action Law Centre (Consumer Action), Council on the Ageing Victoria (COTA), Housing for the Aged Action Group (HAAG), and Residents of Retirement Villages Victoria (RRVV) write in relation to the Retirement Villages (Contractual Arrangements) Regulations 2017 Regulatory Impact Statement (the RIS) conducted by NERA Economic Consulting (NERA).
We write to express our strong view that the current aged care bond rule should be retained (Option 1). In the alternative, we submit that if operators choose to pay the Daily Accommodation Payment (DAP), this amount should not be deducted from the resident’s exit entitlements. We believe this option fairly balances resident choice and financial wellbeing with the concerns of operators.Aged Care Bond Rule RIS submission 24042017